Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Law professor takes deal sponsor to court, and CEO of Wisk Aero predicts electric air taxi shakeout
Enemy of the SPAC: Law Professor Takes Deal Sponsors to Court
Stanford Law Professor Michael Klausner toiled in academic obscurity for decades until 2020, when he wrote a paper slamming special purpose acquisition companies as a rip-off of everyday investors.
Now he’s taking his newfound cache to Delaware Chancery Court. He’ll argue in a Friday hearing that blank-check company GigCapital3 Inc. did what SPACs across the industry do—hide from investors how much money they give to insiders through the promise of nearly free shares.
READChief of Boeing-backed electric air taxi venture predicts sector ‘shakeout’
The number of companies in the electric air taxi industry is expected to shrink next year as investors tighten their belts amid global economic uncertainty and focus on projects they believe will come to fruition, the chief executive of a Boeing-backed venture has said. “I expect more shakeout next year,” Gary Gysin, chief executive of Wisk Aero, told the Financial Times in an interview. “I would expect two or three more that don’t make it through 2023.”
Investors last year poured close to $7bn into the market for all types of future air mobility solutions, mainly through SPAC such as Joby (NYSE:JOBY) which combined with Reinvent Technology Partners, according to data from McKinsey. While all kinds of vehicles, from cargo planes to surveillance drones, are planned, almost 75 per cent of the money went to companies developing manned electric vertical take-off and landing (eVTOL) craft.
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At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...
Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...
Blueport (NASDAQ:BPACU) has filed for a $69 million SPAC that would bring another first-time sponsor team to market. The new SPAC is offering investors a right to a 1/6 share in each unit and it will have 15 months to complete a business combination. It is underwritten by Alliance Global Partners and will not be...
At the SPAC of Dawn The markets appear to poised to continue a rosy week with futures in the green in anticipation of PCE inflation readings. Space is one of the sectors feeling the most love recently and launch services firm Rocket Lab (NASDAQ:RKLB) is keeping up the momentum, scheduling two launches within 48 hours...
FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...